We've had an active summer in the Topanga real estate market with 25 homes closing escrow between June 1st to August 31st. The homes selling? Those priced right for the market of course. Today's buyers are coming to the market informed on value. When they see value, they make a move. This trend is well illustrated in the average days on market number for these sold homes. The sold homes averaged 62 days on market. The average days on market for the first week of fall of all homes for sale is 211 days. Price it right - it sells.
Buyers with good credit are getting purchase loans. Surprisingly enough, we had a few 30 day escrows that actually were financed, funded and closed at or near that 30 day mark. That is a change from the constant delays we were previously seeing at the lenders. Sales of distressed homes, however, are still seeing long, drawn out periods of waiting for short sale approvals and negotiations. That being said, communications on these sales has improved over the past couple of years.
Here is a snapshot of the most Current Market Report for Topanga:
Elaine Hanson, REALTOR® of Snyder Sutton Real Estate specializes in representing home buyers and sellers in the canyon community of Topanga. Please contact Elaine with any questions about buying or selling a Topanga home.